Hopes that the renewables industry will power a jobs boom in Scotland are fading fast amid fresh signs oil giants are losing interest in key projects

Energy giants have accelerated their retreat from the offshore wind market in moves that leave the SNP Government facing challenges on multiple fronts.

First Minister John Swinney has made the claim that renewables can fuel prosperity in Scotland a key element of the case for independence in his campaigning for the coming Scottish Parliament elections.

However, BP has become the latest oil and gas major to make clear that while it sees lots of value in hydrocarbons its belief in the potential of offshore wind in the UK as a business opportunity has faded.

The company slashed the valuation of its offshore wind interests in its fourth quarter results last week after a partner withdrew from two key projects in the UK.

With chief financial officer Kate Thomson telling analysts that BP had gone too far, too fast in its drive into the low carbon energy space, the move raised big questions about the future of the company’s plans to develop a significant renewables business in Scotland.

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It came as the SNP Government pulled the funding for the body that was meant to help Scotland grow into the marine energy powerhouse that former first minister Alex Salmond insisted it could become.

The decision to cut Wave Energy Scotland adrift amounted to an admission that claims about the potential of wave power had been greatly exaggerated.

After years of SNP........

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